Lockers basically prevent the differential from acting as a differential when the locker is engaged, and keep both the left and right axle shafts spinning the same speed, much like the transfer case locks the driveshafts together.
This tends to create more bind, but at the same time, massively increases overall traction, preventing excessive wheelspin that can cause significant damage.
Essentially with the transfer case in 4WD and both axles locked, all four tires must rotate at the same speed. Meaning if one wheel loses traction, it can spin no faster or slower than any other wheel. The only way to get appreciable wheelspin is to break all four tires free, which generally only occurs when one is hopelessly stuck.
The bind causes less damage than shock loads do. A typical cause of a shock load is by spinning a tire and letting it catch on something solid. All of the rotational inertia of the driveline is dumped through the entire system, creating very high instantaneous stress for a very short time. (Another example of a shock load would be dumping the clutch.)
So the idea is that even though lockers can make bind worse, they add control that helps to prevent very high shock loads.
In addition, a locked locker puts far less stress on its internal components when locked than it does unlocked. So it is less likely for the differential itself to fail when locked.